The GBP/USD pair initially tried to rally during the course of the day on Monday, but turned back around at the 1.57 level to this market pullback. With
The GBP/USD pair initially tried to rally during the course of the day on Monday, but turned back around at the 1.57 level to this market pullback. With this, we believe that the market continues to consolidate in general, as the 1.55 level below is massively supportive. It is supported by not only the 1.55 round number, but also the 100 day exponential moving average that is at that level as well. On top of that, the uptrend line should continue to push this market higher as well, as we reach towards the 1.60 level.
GBP/USD Forecast August 18, 2015, Technical Analysis
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
